The sports collectible market, once a thriving industry, experienced a significant downturn in 2023, according to a report by Altan Insights. Altan Insights, a company that monitors sales across various collectible markets, analyzed the data from Card Ladder and observed a downward trend that began about 18 months ago and continued throughout the year.
The report revealed that sales for ultra-modern cards, those issued from 2009 to the present, plummeted by 34.8% from the previous year. Modern cards, defined as those from 1984 to 2008, also saw a decrease in sales, dropping by 30.8%. Although vintage cards also experienced a decline in overall sales, they fared relatively better compared to their modern and ultra-modern counterparts.
In the fourth quarter of 2023, vintage and pre-war cards outperformed modern and ultra-modern cards, widening their advantage in the collectible market for the year, as noted in Altan Insights’ report.
The sectors hit hardest by this decline were football, soccer, racing, and basketball cards. Prices for these cards witnessed the most substantial declines. The report highlighted that high-end football cards, particularly those of quarterbacks, failed to recover their value, with injuries to popular quarterbacks in the latter half of the season exacerbating the situation.
Furthermore, Altan Insights pointed out a significant dip in the top 50 sales at most auction houses from 2022 to 2023. Interestingly, the decline was less pronounced in the next tier of sales, suggesting a slightly stronger demand in the mid-range market segment.
The report’s key findings shed light on the state of the collectible market in 2023. In the fourth quarter alone, the number of six-figure auction sales dropped by 40% compared to the previous year, marking the lowest total in the past three years. Additionally, there was a decline in the demand for modern patch cards at high price points, with zero seven-figure basketball card sales in 2023, starkly contrasting the twelve recorded in 2022.
The report also highlighted notable sales of baseball items exceeding $1 million, with eight of them involving cards or memorabilia of Babe Ruth and Mickey Mantle. These sales were spread across five different auction houses, signaling the enduring popularity of these legendary players.
Looking at the eBay market, the top-selling cards of currently active basketball players in the last four months of 2023 included names like LeBron James, Victor Wembanyama, Steph Curry, Luka Doncic, and Giannis Antetokounmpo. However, the market for LeBron James and Steph Curry cards across all platforms saw a decline of over 40% in 2023, while Michael Jordan and Kobe Bryant cards remained relatively stable.
Interestingly, the report also highlighted the resurgence of interest in Jordan cards from the late 1990s. Five of the top ten Jordan card sales in the fourth quarter were from that era, including three of the top five. This suggests that collectors and investors have a renewed appreciation for the classic Jordan cards from that period.
While the market for game-worn and game-used memorabilia showed only modest growth compared to the previous year, the top 25 and top 50 sales in this category in 2023 were more than double the levels achieved in 2021. This indicates that collectors and investors still have an appetite for unique and historical sports artifacts.
Overall, the report by Altan Insights provides a comprehensive picture of the shifting dynamics in the sports collectible market. It highlights the fluctuations in different segments and the evolving interests of collectors and investors in this domain. As the market continues to evolve, it will be interesting to see how these trends develop in the future.
